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February 2009

find out more….

For this and other Real Estate Information visit Venture Companies Website

Contact Larry Thompson – Charlotte’s Only Billion Dollar Real Estate Expert

You will be intrigued to see how the market is really responding.
To see the:
1. Average days on the market
2. The average list price,
3. The average closed price

Just follow the link below…

Cabarrus and Iredell projected to lead with double-digit jump in percentage of households.

Despite the economic downturn that has slowed home building locally and nationwide, Cabarrus and Iredell counties in North Carolina can expect solid housing growth over the next five years, a Bank of America official said.

Cabarrus is expected to lead a four-county region with a projected 18 percent increase in its number of households through 2013, said Ken Bernardo, a senior vice president with the bank. He is the bank’s Cabarrus County market president and a mortgage sales manager.

Iredell will have a healthy increase of slightly above 17percent, well ahead of projections for Rowan and Gaston, the two other counties for which Bernardo released projections at a gathering of about 100 members of the Lake Norman Home Builders Association last week.

Gaston County can expect a 6percent increase in its number of households and Rowan County a 4percent increase, Bernardo said. He didn’t say what his projections were based on. Efforts to reach him later were unsuccessful.

Bernardo told the homebuilders that Cabarrus and Gaston will lead the study area in projected housing purchases this year; he projects there will be 6,500 home purchases in Cabarrus, 4,800 in Gaston, 3,900 in Iredell and 2,200 in Rowan. He said 40percent of sales are projected to be in the $50,000-to- $100,000 price range.

Bernardo told the Observer the projections were good news for an area that’s no longer immune to the national housing slowdown.

Several homebuilders at the gathering said many in their profession are relying on remodeling projects to stay afloat.

Elliot Eisenberg, senior economist for the National Association of Home Builders in Washington, urged those attending to contact their congressional delegations to assist the industry.

Too much is at stake for local communities, he said, to forgo federal action.

Eisenberg, keynote speaker, said the new-home construction industry, taken as a whole, generates more jobs in the Charlotte region – 18,300 – than anything but Carolinas HealthCare System and the former Wachovia, now Wells Fargo.

“Had I done this report a couple of years ago, that number would have been double,” Eisenberg said of the new-construction jobs.

Source – Joe Marusak of charlotteobserver.com
jmarusak@charlotteobserver.com

Visit Venture Companies and Larry Thompson – North Carolina Real Estate and Mortgage Experts

Here is how:
Purchase Price = $250,000

Selling Realtor—Tells the seller to expect to pay $3,000 to $5,000 in closing cost for the buyer because they are going to ask for it.

Buying Realtor—Gets the buyer to get pre-qualified and tell them how much to expect t in Closing Costs. The Realtor says, we can ask for this to be paid by the seller and they will pay it if they want to sell.

The costs between a regular 1% origination loan and a true NO COST Loan is usually 3/8th to 1/2% difference in rate. This means that if you could have gotten 6% with $5,000 in total closing costs, you could get 6.5% for $0. Why would you take a higher interest rate? If you don’t take the rate, you are saying that you know the mortgage market is at the lowest it will be in the next 5 years and it will never be any lower than it is now. The reason 5 years is important is because that is your PayBack period. That is how long it is going to take you to make up closing cost you paid $5,000 with the monthly difference in payment of about $81/month.

If you take the higher rate, then if the rates drop the day after you close, you can refinance and float down with the market for p and then Go Down and then Go Up and then Go Down), you will win.

So with the example above:

Seller—loses $5,000 off the asking price because an inexperienced Mortgage Broker or Banker told the buyer that this is what I can do.

Buyer—although they think they didn’t pay for it, they really did because they could have bought the house for $5,000 less. That means they are paying interest on $5,000 extra for the time they own the house and they have to pay it back when they sell.

Buyer—could have refinanced in the next 6 months and received the 6% they were willing to pay $5,000 to get for Free 6 months later when the market does what it normally does and that is (Go Up and then Down)

We have know this for years and this is why we bring so much value to all of our customers. We keep track of your mortgages for you for life. We do what makes sense. Even if you have just paid $5,000 for financing, we will still be able to put you in our system and call you when it is possible to save you money.

Call me directly for free consultation.
Phone: 704-597-9077
Contact Larry Thompson Click Here

Visit Venture Companies Website – Charlotte North Carolina Real Estate Experts

Investment properties seem to be hot topics these days. Every night you can tune into the latest infomercial showing you how to make millions with “No Money Down”. I have purchased these programs and studied the industry and I am here to tell you that it DOES work, but NOT the way they tell you to do it. As the Owner and Founder of Venture Investments, I believe that there is a right way and a wrong way to Invest. I show people the RIGHT way.

Here is my story on how I got started…

I invested in my first Investment Property in 1999 in Charlotte, NC. My goal was to pay for my child’s college education with one house. I was a finance major in college while working on my MBA. I became interested in Investments after speaking with a lady who had moved a home that was scheduled to be demolished because of a new road being built. She paid movers to move the home onto land that she bought nearby. After all was said and done, the home appraised for over $200k and she has less than $150k invested. I WAS HOOKED. I researched the process and bought my first Investment Property the next month. I had No Money, and had to use a bridge loan for a down payment. I bought the house for $65k and it immediately appraised for 98K. I then refinanced the home for $78k and took out $13k and pain my student loans off. I got a 15 year loan on the property at 7.5%. This is how the numbers worked:

Purchase price $65,000

Loan Amount $78,000

Appraised Value $98,000

Interest Rate $7.5%

Term 15 years

Payment $723/month

Taxes and Insurance $150/month (Total Payment $873/month)

Rental Rate 1998 rental rate $1000/month 2006 Rental Rate $1200/month

I sold this property last year for $111,000. If I would have kept it, it would have been paid for in 7 more years. That is how you pay for College with one property. I had no personal money invested and over a 15 year period, it is paid for. The house when sold should be worth enough to pay for college for one or maybe two children.

We are constantly asked how to Invest in the Real Estate. Here at Venture Investments, we give YOU the same opportunity to be able to buy like I do and help you through the process. Venture Investments is the only company that I know of in the Charlotte Area that offers a way to teach people how to buy Investment Properties with Safe and Proven methods.

To learn how you too can participate in what I know to be a Great Way to Pay for College, give us a call and ask to speak to one of our Investment Specialist. We will teach you everything you need to know and how to avoid the mistakes that I made along the way.

704-597-7187 or visit Venture Companies Website Here

Let me first begin by giving you a little background about myself. I graduated from Clemson University in 1994 with a degree in Finance and have an MBA from University of North Carolina at Charlotte. I served 9 years in the South Carolina National Guard as an Engineer Officer where I gained invaluable experience. I got my Real Estate license in 1999 and formed Thompson Realty along with my wife, Kim, who’s also a graduate of Clemson with an MBA in Accounting from UNCC. I began investing in properties in the Charlotte area and bought and sold so many properties, that my Mortgage Broker at that time wanted me to start doing my own Mortgages. After learning how to make the Real Estate and Mortgage businesses work together, I formed Venture Realty in 2003, where we combine the Real Estate, Mortgages and Attorneys all under the same roof.

In 2003, I became the #13 ranked Rookie Mortgage Broker in the nation.

By 2007 I was ranked #15 nationally on Loan Volume alone. I currently serve as 1 of 22 national members of RMG (Realty Mastermind Group), a group of Top Real Estate Experts in the U.S., who sell between 100 -500 homes a year. Our sole purpose is to share best practices and information on current markets strategies. I’ve also been the only agent in Charlotte, to be featured in the book “Billion Dollar Agents – Lessons Learned 2006”. To be featured in this book, you had to achieve or will achieve 1 Billion Dollars in sales in your career.

Today, under the global heading of Venture Companies, we’ve developed into a ONE STOP SOURCE for all your Real Estate needs. Our current 7,000 sq. ft. office houses Venture Realty, a full service Real Estate Firm, a branch of 1st Metropolitan Mortgage, a National Mortgage Company and Venture Investments, a company specializing in finding foreclosures and Real Estate Owned Properties. We also have a Property Management company that services the rental market and an in-house Attorney that closes all of our real estate transactions while providing legal consultation to our clients. By having all of these services under one roof, I feel it gives our clients the convenience and satisfaction of having all their needs met in one place – something nobody else can provide.

Thank you for your time and logging on to this site. I look forward to creating a place to share my experience and knowledge with those of you who want to gain knowledge and continuously learn about the changing Real Estate market. Keep watching for new additions.